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Investing.com -- Adnoc Gas on Wednesday reported a 16% increase in second-quarter net profit to $1.39 billion on Wednesday, reaching a new quarterly record despite challenging market conditions.
The Abu Dhabi-owned company saw its earnings before interest, taxes, depreciation and amortization (Ebitda) climb 8% to $2.26 billion compared to the same period last year.
Adnoc Gas attributed its positive results to growing domestic gas sales, which increased 3% year-on-year.
The company’s divisional earnings from domestic gas operations rose 23% to $920 million.
Looking ahead, Adnoc Gas raised its full-year 2025 guidance, now expecting an Ebitda margin of around 36%, up from its previous forecast of approximately 35%.
The company also revised its domestic gas sales projection to between 2,410 trillion and 2,450 trillion British thermal units, higher than its earlier guidance of 2,340 trillion to 2,370 trillion BTU.
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